Hess, Chevron and Exxon
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Axios on MSNChevron-Hess merger is a goChevron's blockbuster, $53 billion acquisition of Hess Corp. is complete after a dispute panel ruled against Exxon in arbitration over Hess assets in a massive oilfield off Guyana's coast. Why it matters: The International Chamber of Commerce panel's decision enables a pivotal deal for Chevron that had been held up for over a year in a clash with rival titan Exxon.
Chevron Corporation (NYSE: CVX) announced today that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset.
The ICC ruled in favor of Chevron’s $53 billion acquisition of Hess, granting it a 30% stake in Guyana's Stabroek Block.
Exxon Mobil Corporation dispute, Guyana's oil profits, and Chevron's 2026 cash flow outlook. Click for my CVX update.